Vanessa Rader Head of Research Ray White Group
TOP 10 PERFORMING OFFICE MARKETS
The Property Council of Australia ’ s office market report has recently been released highlighting the changing profile of the central business district ( CBD ) and non-CBD office markets in Australia . In the post COVID-19 economy , we ’ ve seen a number of office locations unable to rebound with staff continuing to work from home , which has changed the landscape for new take up of stock and movements across the region .
Our largest office markets , being Sydney and Melbourne CBD , continue to record negative net absorption as more businesses leave or reduce their space requirements , which has resulted in increases in vacancy to 11.3 per cent and 13.8 per cent respectively . Meanwhile , those markets that weren ’ t hampered with the same level of lockdown , such as Brisbane and Perth CBD , continue to see positive take up and have improved their occupancy . The greater trend , however , has been the move out of CBDs into growing employment nodes which have followed population ; markets such as West Perth , Brisbane Fringe , Sunshine Coast and Gold Coast all outperformed with high rates of demand to occupy space .
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